Marc Lasry Quotes
101 Marc Lasry Quotes
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[On the keys to building a successful hedge fund business.] First, you have to have good returns. It’s not complicated. [Secondly.] You hire smart people who are talented.
Marc Lasry
[On the hedge fund business] You have to view it as a business. If you don’t, you could get hurt.
Marc Lasry
When I was building Avenue, I looked to see which firms did very well and why. The reason for their success was that they had built the infrastructure and built an environment where people wanted to be.
Marc Lasry
Lots of people have grandiose ideas. They say, ‘I built a phenomenal firm. I’ve got one hundred fifty people. We have the best infrastructure and technology.’ Whoopee. How much money did you make me?
Marc Lasry
[On not believing his role is to mentor.] I don’t think it’s my role. I think my job is to figure out how to make money, to figure out how we grow, and when and where we invest.
Marc Lasry
Of course it’s difficult to do, that’s why not many people do it.
Marc Lasry
If you believe that you have something that’s different and unique, then go do it. And ultimately the market will agree or disagree with you.
Marc Lasry
It’s kind of hard to run an investment fund if you’re losing twenty percent a year.
Marc Lasry
You will either make it work or not.
Marc Lasry
It’s never a great time. So if you believe you have something different – then do it. And you will find out very quickly whether others agree with you.
Marc Lasry
In the beginning there’s two employees… There’s always somebody bigger and better. And ultimately you’ve got to convince people that you will do a better job.
Marc Lasry
We thought things were going to get worse in 2006. We were ultimately right, but we were too early.
Marc Lasry
Do you have the luxury of time to be right?
Marc Lasry
[In May 2012] I think in Europe today you have to have capital that’s locked up and the reason you need that is that these situations are any time between two to three years. So you have to be able to get involved in restructuring…
Marc Lasry
[In May 2012 on his type of investing in Europe] I don’t think it’s easy at all. I think it’s extremely complicated.
Marc Lasry
[In May 2012] You have to be on the creditor’s committee.
Marc Lasry
2002 was an extremely bad year. The worst of times for everybody else is the best of times for us.
Marc Lasry
[On terminating a pension.] A termination increase the amount of claims that the company has go to pay back. It reduces the value of the estate. But at the same time, it ends up paving the way for when the company comes out of bankruptcy, because the company’s got a cleaner balance sheet. It’s absolutely worth doing long term. As to whether the short-term impact causes too many problems, that’s the question.
Marc Lasry
I back into it, based on the return I want to generate.
Marc Lasry
[On employees and terminating a pension.] You’ve got to end up convincing them that the short-term pain is beneficial.
Marc Lasry
I’m a value guy. I can’t afford the Hamptons.
Marc Lasry
Bonus
[On Marc Lasry] Marc is definitely adventurous. He’s willing to take contrarian risks and he’s willing to act promptly. Avenue doesn’t have a big bureaucracy.
David Bonderman
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